ITHACA, N.Y. — Unibaio of New York City is the $1 million grand-prize winner of the sixth annual Grow-NY business competition.

The funding was awarded at the Grow-NY Summit, a two-day event in Ithaca where finalists pitched their business plans to a panel of expert judges, Empire State Development (ESD) said in its Thursday evening announcement.

The Grow-NY business competition is focused on enhancing the emerging food, beverage and agriculture-innovation cluster in Central New York, the Finger Lakes, and the Southern Tier, ESD said.

Unibaio offers naturally derived particles that trap the active ingredients of pesticides and fertilizers, “enabling them to penetrate plants more efficiently.”

“Winning the $1 million grand prize at the Grow-NY Summit is a dream come true. It’s more than just the money — it’s validation of our team’s hard work, innovation and dedication to creating a solution that will have a lasting impact on farming,” Matia Figliozzi, CEO and co-founder of Unibaio, said in the ESD announcement. “The mentorship we received and relationships we developed through Grow-NY were invaluable, helping us refine our strategy and prepare for growth. This win will allow us to scale our operations in Upstate NY and contribute to a more sustainable and resilient food system.”

Altogether, the competition awarded $3 million — including the $1 million grand prize — to seven of the 20 finalists participating in the business development accelerator.

The $500,000 winners included PureNano Tech of Parsippany, New Jersey and UdderWays of Albion in Orleans County. The four $250,000 winners included Zordi of Oakfield in Genesee County.

Each winning team will commit to operating in the region for at least one year, while also providing a modest equity stake to Cornell University, to fund future food and ag entrepreneurship programming.

Cornell University’s Center for Regional Economic Advancement manages the competition.

The finalists were provided with expert mentorship and guidance as they developed their business plans leading up to this week’s event in Ithaca. During the competition, the companies presented their pitches to a panel of seven judges with expertise in agriculture, food production, and venture development, ESD said.